Statutory compliance
This query is : Open
14 December 2009
Can the share application money be received in form of kind? Do the following entry is correct?
ADVANCE TO CREDITORS a/c Dr
to SHARE APPLICATION MONEY a/c.
ADVANCE TO CREDITORS a/c Dr
to SHARE APPLICATION MONEY a/c.
14 December 2009
Share application money can be received in cash.
But in case of IPO/Right Issue etc., now-a-days; these are received by account payee cheque or demand draft only.
The entry will be:-
Cash or Bank a/c Dr
To Share Application A/c
But in case of IPO/Right Issue etc., now-a-days; these are received by account payee cheque or demand draft only.
The entry will be:-
Cash or Bank a/c Dr
To Share Application A/c
19 December 2009
Can the share application money be received in form of kind? Do the following entry is correct?
ADVANCE TO CREDITORS a/c Dr
to SHARE APPLICATION MONEY a/c.
ADVANCE TO CREDITORS a/c Dr
to SHARE APPLICATION MONEY a/c.
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